Dragon Buffet building owner on Central Ave. files bankruptcy

The owner of the building that houses Dragon Buffet, a popular restaurant on Central Avenue in Colonie, has filed for Chapter 11 bankruptcy protection.

The company that owns the building, which also serves as a motel, reports $1.8 million in assets and $1.6 million in liabilities. The company says that revenues are annually around $120,0000 from rent.

The bankruptcy filing does not appear to have impacted the restaurant, which is still open. It appears that the operator of the restaurant is different than the owner of the building.

Dragon Buffet on Central Avenue in Colonie

Larry Rulison

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Editor’s note: When this story was written Friday morning, it was not clear that in fact the bankruptcy filing was made by the owner of the building, not the owner of the restaurant. Therefore, the yearly income is rental income paid to the building owner. It is not an indication of the restaurant’s income. The story has been updated to reflect the situation.